Fashion and Beauty retailer Nykaa’s Chief Executive Officer and founder Falguni Nayar while speaking at the 57th convocation of the Indian Institute of Management (IIM Ahmedabad) advised students to take risks in the early years of their careers.
Nayar, who was the chief guest of the ceremony, also told the graduating students to take up challenges and push themselves out of their comfort zones.
Falguni Nayar Career Advice
“Spend the early years of your career taking the right risks and make some bold bets on yourself. Test what you like and what you don’t. Take on roles that put you outside of your comfort zone and challenge yourself. Discover new interests and hone on skills you excel at,” Nayar advised.
Nayar added, “Remember, no matter what anyone says, it is never too late to start all over again. Decision making will not always be easy, and often there will be no straightforward answer. So, trust your gut to an extent, it will guide you well.”
Falguni Nayar, who is also an alumna of the IIM Ahmedabad, began Nykaa in 2012, months before she turned 50. Earlier, she was working as an investment banker and worked for AF Ferguson & Co and later joined Kotak Securities, Kotak Mahindra’s institutional equities division. After working with them for 19 years, she left the firm as a Managing Director to start her own beauty-technology venture Nykaa.
While alluding to her journey from being an employee to an entrepreneur, Nayar said that when she decided to begin her company, no one was interested in her idea. “The idea of doing what’s right by ‘you’ was the inspiration for the name Nykaa itself, which comes from the Sanskrit word ‘Nayaka’ and is inspired by a message to all that one must pursue their dreams and shine the spotlight in their lives,” she said.
Nayar has now become India’s wealthiest self-made female billionaire. She owns half of Nykaa’s shares, which is now worth about $6.5 billion. Her venture was the first woman-led unicorn which offered nearly 4,000 beauty, personal care and fashion brand through its website and has 80 stores across India.